Category: News & Announcement

Pakistan may have another financing window that may be almost equal to, if not bigger than, the investment under the China-Pakistan Economic Corridor (CPEC) as the Global Investment Consortium (GIC) mulls over investing billions of dollars into the country. The consortium is considering investing up to €50 billion on a public-private partnership basis in different megaprojects like Naya Pakistan Housing Scheme, Reko Diq copper and gold project and Diamer-Bhasha dam and power project at a time when economies around the world are struggling to combat the fallout from Covid-19. GIC…

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Pakistan plans to seek rollover of half of nearly $28 billion external public debt that is maturing over the next three years, as the Bretton Woods Institutions begin their meetings that will also review possibility of writing off loans of member nations. The country seeks the fiscal space to help out its citizens affected by the coronavirus pandemic, as an independent assessment puts the fiscal needs of reaching out to all the households with bare minimum monies at Rs678 billion per month during the lockdown period. However, the federal government’s…

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China’s air quality has improved dramatically in recent weeks as a result of the widespread city lockdowns and strict travel restrictions introduced to contain the coronavirus epidemic. But experts say the blue skies could rapidly disappear as factories and roads reopen under a government stimulus plan to breathe new life into a stalled economy.According to the Ministry of Ecology and Environment, between January 20 and April 4 the average concentration of PM2.5 – the tiny particles that pose the biggest risk to health – fell by 18.4 per cent from…

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REC Limited, a public infrastructure finance company in India’s power sector, announced that its board of directors had approved a proposal to incorporate seven project-specific special purpose vehicles (SPVs) as wholly-owned subsidiaries of REC Transmission Projects Company Limited (RECTPCL) to develop transmission projects. The RECTPCL is a subsidiary of REC Limited that will be developing the following projects allocated by the Ministry of Power (MoP): Transmission program for solar energy zone in Gadag (2.5 GW), Karnataka – Part ATransmission program for solar energy zone in Bidar (2.5 GW), KarnatakaTransmission system…

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KARACHI: The Economic Coordination Committee (ECC) on Cabinet’s decision has been taken as surprise to shelve all the LPG air mix plants installation which were meant to provide the poor with a clean, environmental friendly, cheap and safe resource of energy besides uplifting of country’s remote area in Balochistan, Northern Areas and AJK.  Baluchistan was first deprived of Sui Gas and now even Synthetic natural gas (SNG) by the vested interest.LPG Air mix plants were planned to be installed in unprivileged areas in Baluchistan and Northern Pakistan, where no on-grid supply…

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